Results for: GameStop

Ryan Cohen, chairman and CEO of GameStop, has been fined $985,320 by the Federal Trade Commission for violating the Hart-Scott-Rodino Act during his acquisition of Wells Fargo shares in 2018. Cohen failed to file the necessary paperwork, resulting in an acquisition exceeding HSR filing thresholds and triggering the need for antitrust review. The FTC’s investigation found that Cohen’s actions were not exempt under the Investment-Only Exemption, as he sought to influence Wells Fargo’s operations. Cohen ultimately made a corrective filing in January 2021.

U.S. stock futures are on the rise this morning, with the Dow futures gaining momentum. However, the pre-market session saw several notable losses, including Oxford Industries, GameStop, and BeiGene. Oxford Industries shares plummeted after disappointing earnings, while GameStop continued its downward trend. BeiGene, after a significant gain on Wednesday, faced a decline in pre-market trading.

Jim Cramer, host of CNBC’s ‘Mad Money,’ has criticized GameStop’s business model, comparing it to an overvalued SPAC due to its reliance on raising capital despite poor financial performance. Cramer urges the company to present a clear strategy to justify its current stock price.

Wedbush analyst Michael Pachter questions GameStop’s high stock price, arguing the company lacks a clear strategy despite its efforts to manage losses. He suggests GameStop should focus on its cash reserves and consider closing stores, highlighting the company’s lack of shareholder accountability.

U.S. stock futures opened lower on Wednesday, with GameStop shares experiencing a significant drop in pre-market trading after the company reported disappointing second-quarter results. Several other stocks, including Rentokil, Trump Media, and Relay Therapeutics, also saw substantial declines in pre-market trading.

GameStop Corporation (GME) reported a second-quarter profit that beat analysts’ expectations but fell short on revenue, indicating a continued decline in sales across all segments. Despite the mixed results, the company ended the quarter with a strong cash position and plans to convert some stores into retro gaming retailers.

GameStop is set to report its second-quarter earnings on Tuesday, with Wall Street expecting a loss but revenues exceeding $895 million. The company is facing headwinds from declining discretionary spending, but its recent focus on retro gaming and strong technical indicators suggest potential for growth. However, analysts remain bearish, with price targets significantly lower than current trading levels.

GameStop is set to release its second-quarter earnings on Tuesday after market close, with investors and analysts hoping for insights into the company’s financial performance and future growth plans. While revenue is expected to decline year-over-year, potential highlights include the impact of the highly anticipated ‘College Football 25’ game and updates on the company’s cash usage strategy. This report comes amidst recent share price fluctuations and renewed interest from investors following a social media post from Roaring Kitty.

GameStop’s stock price is on the rise as investors anticipate the company’s second-quarter financial results, scheduled for release after Tuesday’s market close. The recent activity, fueled by speculation surrounding Roaring Kitty’s social media post and unusual options trading, has further heightened investor interest.

The popular social media investor known as Roaring Kitty has returned to X, formerly Twitter, with a cryptic post, sending shares of GameStop and AMC Entertainment Holdings higher. The post sparked speculation about a potential investment in Chewy, Inc., a company the investor has previously held a large stake in.